Grayscale Investments Unveils New Portfolio Excluding Ethereum Network

Editors News

• Cardano and Solana lead the pack with around 24 percent of the total portfolio.
• The price of Cardano has risen by double digits in the last week.

On Tuesday, Grayscale Investments launched its “Smart Contract Platform ex Ethereum Fund,” which aims to provide investors with exposure to smart contract technology that is not tied to the Ethereum platform. The fund is presently only available to authorized investors in a private placement. Still, Grayscale intends to pursue a public quote on the secondary markets, as it has done with nine of its other investment products.

Cardano and Solana Lead the Pack

There are now 24.6% of Cardano’s ADA in the portfolio, 24.3% of Solana’s SOL, 17% of Avax, 16.2% of DOT, 9.7% of Polygon’s MATIC, 4.3% of Algorand’s ALGO, and 4.1% of Stellar XLM.

Grayscale CEO Michael Sonnenshein said:

“Investor demand for diversified exposure has grown in parallel to the ongoing evolution of the crypto ecosystem.” 

Cardano and Solana lead the pack with around 24 percent of the total portfolio. The price of Solana has seen its largest significant gains in more than six months. As of Saturday’s close, SOL had broken out of the falling wedge, the lower trend line of a previous bull flag, and had barely squeaked a closing above the 61.8 percent Fibonacci retracement at $76.

On the other hand, sellers grabbed control on Sunday and dropped the Solana price below Saturday’s open and low, but it couldn’t close below the upper trend line of the falling wedge. Instead, SOL bounced. Cardano’s price has recovered from a recent slump on the heels of growing dominance in the DeFi ecosystem. In the DeFi ecosystem, the Ethereum-killer faces up against Optimism.

The price of Cardano has risen by double digits in the last week, owing to a surge in the altcoin’s supremacy. Ethereum-killer blockchain, according to analysts, is on course to meet the $1 objective as it makes significant advances.